Bitcoin Tops $69,000 as Treasury Buybacks, SEC Proposal Lift Crypto
The U.S. Treasury’s expansion of liquidity-supporting buybacks has strengthened expectations for improved market funding conditions, while a Securities and Exchange Commission proposal would offer exemptions for certain crypto asset issuances. The combination matters because digital assets are highly sensitive to dollar liquidity, and a clearer path for compliant token offerings could reduce regulatory friction that has weighed on the industry.
Bitcoin climbed above $69,000 in the latest broad-based rally, while Ether advanced as much as 18% to $2,250 after an earlier report put its gain near 10%. Traders attributed the move to the Treasury buyback expansion and optimism surrounding the SEC proposal. The exemption framework remains a proposal rather than a finalized rule, leaving its eventual scope and implementation timeline as key issues for the market.
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The history behind this eventBitcoin Reclaims $65,000 as Crypto Market Rebounds
Bitcoin and Ether are the crypto market’s main gauges of risk appetite, with sharp moves often spilling into altcoins and leveraged derivatives. The latest recovery comes as record-high U.S. equities and easing anxiety over the Federal Reserve encourage investors to take on more risk. Still, sentiment remains fragile after recent volatility and heavy liquidations unsettled traders across digital-asset markets.
Bitcoin reclaimed the $65,000 level in the latest broad-based advance, while Ether jumped more than 3% to break above $1,940. Crypto derivatives positions worth about $213 million were liquidated across the market over the past 24 hours. The Fear and Greed Index rose to 30, signaling an improvement from deeper pessimism, though the reading remained in “fear” territory and pointed to continued caution among investors.
Ether Leads Crypto Market as Bitcoin Holds Above $63,000
The cryptocurrency market has shown strong resilience following its late-June decline. Bitcoin and Ether have held key technical support levels even as a stock-market rally driven by AI and chip shares has lost momentum. Traders see the move as an early sign of a more durable recovery. It also breaks from crypto’s typically close correlation with U.S. technology stocks, prompting global investors to reassess digital assets’ independent safe-haven value during macroeconomic turbulence.
Ether led the market with a 12% weekly gain in mid-July, driven mainly by Bitmine’s purchases and the launch of Robinhood’s Layer-2 network, which attracted more than $70 million in its first week. Bitcoin also held above $64,000 over the July 12 weekend. Analysts said Bitcoin could challenge $70,000 ahead of the Federal Reserve’s July 28 rate meeting if signals of a rate cut become clear.
Bitcoin Breaks Above $66,000, Lifting Crypto Markets and Asian Stocks
Bitcoin and Ethereum had fallen for several consecutive days as investors grew concerned about AI stock valuations and the outlook for global risk assets. Cryptocurrencies often move with risk appetite in U.S. technology shares and Asian equities, making Bitcoin's ability to hold above $66,000 an important gauge of whether market confidence is recovering.
In the latest trading, Bitcoin surged above $66,000, while Ethereum returned to around $1,920, driving a rebound across crypto markets and Asian equities. Investors are now focused on NVIDIA's upcoming earnings and guidance for clues on whether momentum in technology stocks can continue and support the outlook for risk assets.
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